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ABB has reached a deal to offload 80.1% of its $11B power grid business to Hitachi (HTHIY), making the Japanese conglomerate the world No. 2 in heavy electrical equipment behind [[GE]]. The sale of its least profitable division would shrink ABB's revenue by about a quarter, but leave it more focused on robotics and automation. The Swiss engineering giant, which has pledged share buybacks following the transaction, also